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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 9,600 Less: Cost of goods sold

Use the following information to answer this question.

Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales $ 9,600
Less: Cost of goods sold 7,810
Less: Depreciation

470

Earnings before interest and taxes $ 1,320
Less: Interest paid

106

Taxable Income $ 1,214
Less: Taxes

425

Net income

$ 789

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)

2009

2010

2009

2010

Cash $ 240 $ 270 Accounts payable $ 1,410 $ 1,410
Accounts rec. 1,020 920 Long-term debt 1,110 1,310
Inventory

1,840

1,710

Common stock $ 3,360 $ 3,280
Total $ 3,100 $ 2,900 Retained earnings

650

900

Net fixed assets

3,430

4,000

Total assets

$ 6,530

$ 6,900

Total liab. & equity

$ 6,530

$ 6,900

What is the quick ratio for 2010?

1.21

0.82

2.06

1.87

0.84

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